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i don't want to see tax rates go up. again, i'm not sitting in the white house, and i'm not sitting in the senate. i'll do everything i can to make sure it doesn't happen. dennis: i'll take that as a no. are the democrats truly willing to let us go over the cliff if the republicans refuse to raise rates on the rich? >> i think there's a constituency on both sides, republican and democrat, that would be willing to see that happen for ideological as well as political reasons. i think we both hope that that does not happen, and i think what he said is correct. the republicans did put forward a plan. it's a reasonable plan, but, look, i got news for you. this is a negotiation. they are not going to get everything they want, the democrats not everything they want. just having a plan on the table and criticizing the other side and walking away doesn't help anybody. dennis: it doesn't. how much of what we watch are just postturing posturing and knowing secretly you'll reach a settlement? >> we understand how important it is tha
i don't want to see tax rates go up. again, i'm not sitting in the white house, and i'm not sitting in the senate. i'll do everything i can to make sure it doesn't happen. dennis: i'll take that as a no. are the democrats truly willing to let us go over the cliff if the republicans refuse to raise rates on the rich? >> i think there's a constituency on both sides, republican and democrat, that would be willing to see that happen for ideological as well as political reasons. i think we...
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Nov 30, 2012
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that goes down as tax rate marginal tax rates go up. that is the big issue. dennis: if my marginal tax rate stays the same but i can't hire tax bill because they kept my deductions aren't i still going to not bought a welding torch i was going to buy? >> that may be. you made me pick one out of three. dennis: the thing we are worried about, there are things you say they can do. they should wait on spending but tell us about changing their tax filing status. >> one of those things we are going to see is a big difference between the personal marginal tax rates and the corporate tax rates which allegedly are going to be lower to make as competitive internationally so over the past 37 years we have been collecting data we have seen people switch back and forth. it costs money to change your status but the difference between tax rates gets big enough people will do it so we will see people switching from sole proprietorships into corporate status so they can take advantage of lower tax rate. dennis: something like two thirds of balls busines
that goes down as tax rate marginal tax rates go up. that is the big issue. dennis: if my marginal tax rate stays the same but i can't hire tax bill because they kept my deductions aren't i still going to not bought a welding torch i was going to buy? >> that may be. you made me pick one out of three. dennis: the thing we are worried about, there are things you say they can do. they should wait on spending but tell us about changing their tax filing status. >> one of those things we...
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tax rate increase. democrats have said no to that proposal.% in response to that a spokesman for house speaker john boehner saying despite republicans offer to put real revenue on the table the president has offered no concessions whatsoever. when will this willingness to compromise materialize??3 now republicans and democrats say there are no major meetings planned, no summit for democrats and republicans yet to get together and talk on this. the white house says they imagine that there is some e-mail traffic going back and forth but they refuse to tell us when and where they plan on negotiating this. back to you. ashley: i bet the language in the e-mail is pretty interesting too. >> right. ashley: rich edson, thanks so much. tracy: well more companies are accelerating their dividend payments. so we heard from campbell's soup and coach. some of the latest getting cash to shareholders ahead of fiscal cliff. oracle taking it a step further. moving up three dividend payments before the end of the year. fo
tax rate increase. democrats have said no to that proposal.% in response to that a spokesman for house speaker john boehner saying despite republicans offer to put real revenue on the table the president has offered no concessions whatsoever. when will this willingness to compromise materialize??3 now republicans and democrats say there are no major meetings planned, no summit for democrats and republicans yet to get together and talk on this. the white house says they imagine that there is...
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largest tax cut company in the world. australia had a really strong tax season. a loss of $0.39 a share. they do typically take a loss in this particular quarter because it is not the most busy time for doing taxes. they said they are very optimistic heading into the tax season. this stock looking pretty good. up 3.5%, up 10% for the year. connell: thank you very much. dagen: they were in love and then they weren't, with apple. they have gone gold, investors. for good. connell: cheryl and dennis are coming up to take over coverage with the latest on apple and whether investors have already seen their best days with the stock. i don't know. we will be right back. ♪ mac i am cheryl casone. dennis: i am dennis kneale. apple shares are higher after selling off for days. investors bailing out and taking a big capital gains before higher taxes. is there more at work here? have we fallen out of love with the beloved land? cheryl: plan layoffs increasing for the third straight month. tomorrow we need to look at the big number, the government number. coming up a unique
largest tax cut company in the world. australia had a really strong tax season. a loss of $0.39 a share. they do typically take a loss in this particular quarter because it is not the most busy time for doing taxes. they said they are very optimistic heading into the tax season. this stock looking pretty good. up 3.5%, up 10% for the year. connell: thank you very much. dagen: they were in love and then they weren't, with apple. they have gone gold, investors. for good. connell: cheryl and...
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>> make any tax increase, rolling back bush tax cuts, for example, conditional upon reaching agreement that stop the debt growing as a percent of gdp. they can't reach the agreement by the end of the year so as a part of this, agree to retroactively roll back bush tax cuts if they reach agreements. >> the democrats thought they did enough deficit cutting. >> not even close. >> right. >> 0%, you need $900 billion of tax increases or spending cuts to stop debt growing as a percent of gdp. on the $900 billion you need, you need more than that. the president, who wants to support his spending, needs enormous tax increases, and public opinion says he can blame tax increases on republicans if he's over the cliff so his threat to go over the cliff, i think, is very credible, and i think the republicans are in a very procare yows negotiating position because if they are blamed for this, they'll loss the house, and if they lose the house, there's enormous damage done to the economy. >> that's all the control they have left. they don't want to lose that in two years. back to the math to dig into
>> make any tax increase, rolling back bush tax cuts, for example, conditional upon reaching agreement that stop the debt growing as a percent of gdp. they can't reach the agreement by the end of the year so as a part of this, agree to retroactively roll back bush tax cuts if they reach agreements. >> the democrats thought they did enough deficit cutting. >> not even close. >> right. >> 0%, you need $900 billion of tax increases or spending cuts to stop debt...
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with taxes going up, tax-free muni bonds are all the rage. we will have tips on how to find some good ones next. dennis: first, some of today's winners and losers. ♪ [ male announcer ] this is joe woods' rst day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it y, but he'll wk his way up from busser to wter to chef before opening a restaurant specializing in fish and me from the great northwest. hel start investing early, he'll find some good people to help guide him, nde'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. dennis: over 100 companies are paying special dividend. this is before the tax rate on dividends could more than double in january. liz macdonald is here. >> already munis has downgraded nearly a third. borrowed money to issue special dividend. in other words, do it before tte end of the year. in fact, half of the deals out there, in october, worked for special dividend. i will tell you so
with taxes going up, tax-free muni bonds are all the rage. we will have tips on how to find some good ones next. dennis: first, some of today's winners and losers. ♪ [ male announcer ] this is joe woods' rst day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it y, but he'll wk his way up from busser to wter to chef before opening a restaurant specializing in fish and me from the great northwest. hel start investing early, he'll find some...
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11/12
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raising the gas tax is the latest. tom kloza joined those on the phone now. >> i think it is probably something that is sensible to look at. melissa: what works? this is incredibly regressive. i cannot imagine democrats embracing this. this will hit lower income americans the hardest. >> in the rural south and the rural midwest. it has not been increased since 1993. it is a fraction of what you see. here is a thought. if you really believe and i do believe that we are probably going to be much more dependent on foreign oral and have two purdue as oil going forward, there may be a way to index it towards those u.s. numbers. melissa: is the economy growing at 8% and no one told me look back why would you raise taxes on something like this works? home values are terrible. unemployment is high. that just takes money directly away from things that people would spend money on to fuel the economy and put that in the pocket of the government. >> i would disagree with you. years ago if we would spend as much as we well this yea
raising the gas tax is the latest. tom kloza joined those on the phone now. >> i think it is probably something that is sensible to look at. melissa: what works? this is incredibly regressive. i cannot imagine democrats embracing this. this will hit lower income americans the hardest. >> in the rural south and the rural midwest. it has not been increased since 1993. it is a fraction of what you see. here is a thought. if you really believe and i do believe that we are probably going...
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taxes. is anybody listening to this? >> we just put this out. we like to get congress focus on doing the least amount of harm while they raise revenues of some sort. you can do through asset sales, develop kind of things thee3 government owns and does not own. a lot of things in terms of oil leases and about a trillion dollars worth of mineral rights the government can sell off rather than raising taxes. they can equate government workers to pay more towards the health insurance and pensions, that would be a good thing and raise revenues. there are lots of ways to raise revenues without doing harm to the economy. lori: i have got to interrupt you here, why is the president so insistent upon raising tax rates for the wealthy? if you are point we don't necessarily have to do that to get meaningful revenues. melissa: it seems like religious or political on is part. this is a matter of an article of faith on the part of democrats and liberals to get rid of the bush tax cuts for the wealthy. they
taxes. is anybody listening to this? >> we just put this out. we like to get congress focus on doing the least amount of harm while they raise revenues of some sort. you can do through asset sales, develop kind of things thee3 government owns and does not own. a lot of things in terms of oil leases and about a trillion dollars worth of mineral rights the government can sell off rather than raising taxes. they can equate government workers to pay more towards the health insurance and...
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instead of reforming the tax code, the president wants to raise tax rates. even if the president that the tax rate hike that he wanted, understand that we will continue to see trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan. >> you did speak with the president earlier this week, can you characterize that call. also, it has to be increases in rates for the wealthy or no deal. >> the phone call was pleasant, but more of the same. it is time for the president to be serious and come back with a counter offer. [inaudible question] >> the risk the president wants us to take, increasing tax rates will hit many small businesses that produce 60-70% of the new jobs in our country. that is the whole issue. [inaudible question] >> i think that is reckless talk. [inaudible question] >> listen, raising
instead of reforming the tax code, the president wants to raise tax rates. even if the president that the tax rate hike that he wanted, understand that we will continue to see trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan....
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Nov 29, 2012
11/12
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far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they hel
far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging...
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paying more taxes. that will go up in january. cheryl: it will be interesting. protesters in each of force the u.s. embassy in cairo to shut down. up-to-the-minute coverage ahead. dennis: it is illegal to smoke pot in two western states, but we will tell you why employers can still fire you for doing it. cheryl: that makes sense, right? would you pay more for vitamin c in showers or aromatherapy? we will talk to the man behind the stay well hotel concept. dennis: as we do every day this time, here is looking at her, why that the cme with that. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find e right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom hel you get personalized and
paying more taxes. that will go up in january. cheryl: it will be interesting. protesters in each of force the u.s. embassy in cairo to shut down. up-to-the-minute coverage ahead. dennis: it is illegal to smoke pot in two western states, but we will tell you why employers can still fire you for doing it. cheryl: that makes sense, right? would you pay more for vitamin c in showers or aromatherapy? we will talk to the man behind the stay well hotel concept. dennis: as we do every day this time,...
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it has been some progress on the tax cut side in terms of tax reform that could raise a type of revenue that we are going to need, but as far as i can see, there has been no meaningful discussion at all on the spending side and as many americans have to balance the wrong budget knows, if you have a deficit that means you have to bring in more rate comment and spend less. melissa: all we're ever talking about is raising taxes and nobody is talking about what we need to cut. the first thing you would do is stop spending. let's tighten our belts. regardless though you really think it is too late? i think they can come up with some solution that is held together with chicken wire and bubblegum and scotch tape and this little crummy thing that will keep us from going over the cliff pushing the whole problem off into the future. speak i think you have to treat two separate issues separately. one is avoiding the cliff, and i think the way to do that is to reach a short-term agreement on tax cut extensions. relatively optimistic they can get a long-term budget agreement done next year, but don'
it has been some progress on the tax cut side in terms of tax reform that could raise a type of revenue that we are going to need, but as far as i can see, there has been no meaningful discussion at all on the spending side and as many americans have to balance the wrong budget knows, if you have a deficit that means you have to bring in more rate comment and spend less. melissa: all we're ever talking about is raising taxes and nobody is talking about what we need to cut. the first thing you...